The Global Middle East Flooring And Carpet Market is estimated to be valued at US$ 8.93 Bn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Flooring refers to various covering materials used on floors and carpets are manufactured as floor coverings made from various textile, synthetic fibers,natural fibers or a combination of the same which are produced and distributed in the Middle East region. Carpets are used in the Middle East homes, offices,hotels, hospitals, educational institutions due to their sound absorbing, insulating and aesthetic features which has been driving high market growth.
Market key trends:
One of the major market trend is growing demand for eco-friendly carpet flooring products due to rising environmental awareness has been witnessed among consumers in the Middle East region. Eco-friendly carpets are manufactured using sustainable materials such as recycled plastics, renewable plant-based materials or organic natural fibers such as jute, sisal, coir, seagrass or wool which causes minimal environmental impact during production and after use increasing their adoption rate among end users in the Middle East countries. Moreover, advancement in carpet manufacturing technologies has enabledbetter production ofdesign-integrated carpets catering to modern interior aesthetics driving new product innovations and designs.
SWOT Analysis
Strength: The Middle East region has a well-established flooring and carpet manufacturing industry with big players having strong production capabilities and design expertise.
Weakness: High dependency on imports of raw materials like wool makes the industry vulnerable to price fluctuations.
Opportunity: Growing construction activity for real estate, hotels and commercial buildings is expanding the potential market for new flooring and carpet installations.
Threats: Economic slowdowns can negatively impact the construction sector and flooring/carpet demand. Competition from cheaper imports is also a challenge.
Key Takeaways
The Global Middle East Flooring And Carpet Market Share is expected to witness high growth, exhibiting CAGR of 7.2% over the forecast period of 2023 to 2030, due to increasing construction and infrastructure development projects in the region. The market size for 2023 is estimated at US$ 8.93 Bn.
Regionally, Saudi Arabia dominates the Middle East flooring and carpet market with around 35% value share. This is driven by huge government investment in building megaprojects and diversifying the economy away from oil. UAE and Egypt are other major regional markets growing rapidly due to tourism and real estate boom.
Key players operating in the Middle East flooring and carpet market are Al Sorayai Group (Saudi Arabia), Abdullatif Carpets (Saudi Arabia), Al Mira Carpet Factory (Saudi Arabia), Abu Dhabi National Carpet Factory (UAE), Mac Carpet (Egypt), Prado Egypt For Carpet (Egypt), Gheytaran Carpet (Iran), Oriental Weavers (Egypt), Standard Carpets Ind.LLC., Saida Carpets (Jordan), Dormina (Turkey), Mohawk Industries, Interface Middle East, Beaulieu Flooring, Tarkett S.A., Balta Group, and Shaw Industries Group, Inc. The industry is marked by presence of global as well as local manufacturers.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it